Chinese regulators summoned major rare earth producers, vowed to bring prices to reasonable levels

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Chinese regulator summoned the country's major rare earth producers on Thursday to have discussions about the surging prices of the critical resources.

According to a statement released by the Ministry of Industry and Information Technology (MIIT) on Friday, it instructed industry giants including the newly founded conglomerate China Rare Earth Group, Shenghe Resources, and China Northern Rare Earth Group to regulate their operations and trading, and to prevent market speculation or hoarding.

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